Persistently high mortgage rates above 7% continue to erode builder confidence, as sentiment levels have dropped below the key break-even measure of 50 for the first time in five months.
Over the first seven months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 527,158. On a year-over-year (YoY) basis, this is 18.4% below the July
A majority of single-family home building occurs in counties that are in the lowest quintile of homeownership rates, according to NAHB analysis of 2021 5-year American Community Survey (ACS) county-level
According to the latest Survey of Construction (SOC), 42 percent of new single-family detached homes sold in 2022 were built on lots under 7,000 square feet, that is 0.16 of
According to the annual data from the Census Bureau’s Survey of Construction (SOC), stucco was the most common principal siding material on new single-family homes started in 2022 (28%), followed by vinyl
Rising mortgage rates and elevated construction costs have taken a toll on the pace of single-family construction in markets across the nation, with the slowdown most pronounced in large metro
NAHB analysis of Census Construction Spending data shows that private residential construction spending rose 1.4% in July after an increase of 1.5% in June and 3.5% in May. Spending stood
According to NAHB analysis of the Survey of Construction (SOC), new single-family starts decreased in 2022. Nationally, 1,018,495 new single-family units started construction in 2022, 10% fewer than the number
An expected impact of the virus crisis is a need for more residential space, as people use homes for more purposes including work. Home size correspondingly increased in 2021 as
NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates custom home building gained market share during recent quarters but experienced a drop for construction
Single-family built-for-rent construction has cooled as investor interest has pulled back on tighter financial conditions. According to NAHB’s analysis of data from the Census Bureau’s Quarterly Starts and Completions by Purpose
A lack of existing inventory and solid demand for housing helped offset rising mortgage rates and push single-family production higher in July, even as builders continue to grapple with elevated
After steadily rising for seven consecutive months, builder confidence retreated in August as rising mortgage rates nearing 7% (per Freddie Mac) and stubbornly high shelter inflation have further eroded housing
Over the first six months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 449,226. On a year-over-year (YoY) basis, this is 20.9% below the June
NAHB analysis of Census Construction Spending data shows that private residential construction spending rose 0.9% in June after an increase of 2.9% in May. Spending stood at a seasonally adjusted
Low existing inventory that is keeping demand solid for new homes helped to push builder confidence up in July even as the industry continues to grapple with rising mortgage rates,
NAHB analysis of Census Construction Spending data shows that private residential construction spending rose 2.2% in May, as spending on single-family homes increased 1.7%. However, total private residential construction spending
Solid demand, a lack of existing inventory and improving supply chain efficiency helped shift builder confidence into positive territory for the first time in 11 months. Builder confidence in the